NMB Holdings has posted a strong start to 2025, recording a profit after tax of ZWG 56 million for the quarter ended March 31, despite operating in a tightly controlled monetary environment.
In a trading update, NMB Group Company secretary Violet Mutandwa said the period was was characterised by a tight monetary environment.
“The period under review was characterised by a tight monetary environment aimed at maintaining a stable exchange rate and containing inflation,” said Violet Mutandwa
Inflation stood at 11% while the ZWG lost only 3.7% on the interbank market.
To bolster exchange rate stability, the Reserve Bank of Zimbabwe maintained statutory reserve ratios and its 35% policy rate.
It also increased forex surrender requirements from exporters to 30% and boosted auction system supply, building critical reserves to support the local currency.
NMB Bank, the Group’s flagship subsidiary, is actively mobilising over US$70 million in external credit lines to support productive lending.
“There are a number of projects in the pipeline aimed at enhancing transactional platforms and elevating customer experience,” said Mutandwa, hinting at a new mobile banking app launch next quarter.
Group operating income hit ZWG 396 million, with 64% of it generated through digital channels. Assets rose to ZWG 7.5 billion, up 5% from year-end 2024, and the Bank’s capital adequacy ratio stood at a robust 28.25%—well above the 12% minimum.
XPlug Solutions, the Group’s fintech arm, is expanding across the continent, implementing banking systems, robotic process automation and mobile banking tools.
Meanwhile, the property subsidiary completed a new cluster home development now on sale.
Looking ahead, Mutandwa said the Group is optimistic.
“The domestic economy is expected to rebound and grow by 6% in 2025,” she said citing recovery in agriculture and mining.
The Group plans to leverage its core banking, tech, and property arms to seize the momentum.
